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PDD Holdings Inc., a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace. It focuses on bringing businesses and people into the digital economy. The company was formerly known as Pinduoduo Inc. and changed its name to PDD Holdings Inc. in February 2023. The company was incorporated in 2015 and is based in Dublin, Ireland.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
PDD Holdings operates e-commerce platforms including China-focused Pinduoduo and the international marketplace Temu, leveraging social commerce features and a direct-from-manufacturer supply model. Long-term growth may be driven by deeper penetration in lower-tier Chinese cities, international expansion, improved merchant monetization and scale efficiencies; investors may find the company attractive for its large active user base and value-oriented model that could support continued volume growth.
Principal risks include regulatory and geopolitical uncertainty for Chinese tech firms and U.S.-listed ADRs, intense competition from other e-commerce players, and margin pressure from aggressive marketing and cross-border expansion.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 36419.01M | 9455.43M | -7263.40M | -6996.28M | -10217.12M |
| Minority interest | - | - | - | 0.00M | 0.00M |
| Net income | 31538.06M | 7768.67M | -7330.31M | -6558.42M | -10217.12M |
| Selling general administrative | 3964.93M | 1540.77M | 1507.30M | 1296.71M | 6456.61M |
| Selling and marketing expenses | 54343.72M | 44801.72M | 41194.60M | 27174.25M | 13441.81M |
| Gross profit | 99095.29M | 62231.85M | 40213.22M | 23803.11M | 10214.74M |
| Reconciled depreciation | 2735.08M | 1844.24M | 148.94M | 637.83M | 497.00M |
| Ebit | 30401.92M | 6896.76M | -9380.33M | -8538.21M | -11306.78M |
| Ebitda | 36620.38M | 10614.68M | -6731.26M | -6913.60M | -10809.78M |
| Depreciation and amortization | 6218.46M | 3717.92M | 2649.07M | 1624.61M | 497.00M |
| Non operating income net other | - | - | - | 0.00M | 0.00M |
| Operating income | 30401.92M | 6896.76M | -9380.33M | -8538.21M | -10799.74M |
| Other operating expenses | 100155.67M | 87053.18M | 68872.19M | 38680.10M | 23919.73M |
| Interest expense | 51.66M | 1231.00M | 757.34M | 145.86M | 0.00M |
| Tax provision | 4725.67M | 1933.59M | 0.00M | 0.00M | 0.00M |
| Interest income | 3997.10M | 3061.66M | 2455.37M | 1541.83M | 584.94M |
| Net interest income | 3945.45M | 1830.66M | 1698.03M | 1395.97M | 584.94M |
| Extraordinary items | - | - | - | 0.00M | 0.00M |
| Non recurring | - | - | - | 0.00M | 0.00M |
| Other items | - | - | - | 0.00M | 0.00M |
| Income tax expense | 4725.67M | 1933.59M | 66.92M | -437.86M | 582.62M |
| Total revenue | 130557.59M | 93949.94M | 59491.86M | 30141.89M | 13119.99M |
| Total operating expenses | 68693.37M | 55335.08M | 49593.55M | 32341.32M | 21014.48M |
| Cost of revenue | 31462.30M | 31718.09M | 19278.64M | 6338.78M | 2905.25M |
| Total other income expense net | 6017.09M | 2558.66M | 2116.93M | 1541.93M | -2.32M |
| Discontinued operations | - | - | - | 0.00M | 0.00M |
| Net income from continuing ops | 31538.06M | 7768.67M | -7179.74M | -6967.60M | -10217.12M |
| Net income applicable to common shares | 31538.06M | 7768.67M | -7179.74M | -6967.60M | -10297.62M |
| Preferred stock and other adjustments | - | - | - | 0.00M | 0.00M |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 348078.12M | 237119.95M | 181209.72M | 158908.61M | 76057.34M |
| Intangible assets | 21.15M | 134.00M | 701.22M | 1276.75M | 1994.29M |
| Other current assets | 1528.67M | 67179.13M | 3424.69M | 5159.53M | 950.28M |
| Total liab | 160836.51M | 119349.04M | 106095.17M | 98732.73M | 51410.47M |
| Total stockholder equity | 187241.61M | 117770.91M | 75114.55M | 60175.89M | 24646.87M |
| Deferred long term liab | - | - | - | - | 0.00M |
| Other current liab | 56563.48M | 37695.34M | 29626.07M | 25505.55M | 14220.87M |
| Common stock | 0.18M | 0.17M | 0.16M | 0.16M | 0.15M |
| Capital stock | 0.18M | 0.17M | 0.16M | 0.16M | 0.15M |
| Retained earnings | 75118.60M | 15193.03M | -17706.53M | -25475.20M | -18295.46M |
| Other liab | - | 13.03M | 32.29M | 2.92M | 7.39M |
| Good will | - | - | - | - | 0.00M |
| Other assets | - | 3583.96M | 16457.47M | 7275.31M | 69.47M |
| Cash | 59794.47M | 34326.19M | 6426.72M | 22421.19M | 5768.19M |
| Total current liabilities | 152900.90M | 116889.48M | 93729.71M | 83882.08M | 45767.81M |
| Current deferred revenue | 2144.61M | 1389.65M | 1166.76M | 2423.19M | 605.97M |
| Net debt | -49628.57M | -17391.87M | 6333.62M | -5454.11M | 881.57M |
| Short term debt | 2290.12M | 14487.79M | 427.16M | 2119.35M | 1014.48M |
| Short long term debt | 648.57M | 13885.75M | - | 1866.32M | 898.75M |
| Short long term debt total | 10165.90M | 16934.32M | 12760.33M | 16967.08M | 6649.76M |
| Other stockholder equity | 107293.09M | 99250.47M | 95340.82M | 86698.66M | 41493.95M |
| Property plant equipment | - | 2460.93M | 3141.86M | 832.68M | 558.46M |
| Total current assets | 294750.47M | 216617.88M | 160909.17M | 149523.88M | 73001.46M |
| Long term investments | - | - | - | - | 0.00M |
| Net tangible assets | - | 117636.91M | 74413.33M | 58899.14M | 22652.57M |
| Short term investments | 157415.36M | 115112.55M | 86516.62M | 64551.09M | 35288.83M |
| Net receivables | 12580.78M | 6906.53M | 4923.89M | 4969.62M | 3416.50M |
| Long term debt | 5231.52M | 1575.76M | 11788.91M | 14432.79M | 5206.68M |
| Inventory | 63431.18M | -6906.53M | 14.20M | 1718.41M | 27577.67M |
| Accounts payable | 91902.69M | 63316.69M | 62509.71M | 53833.98M | 29926.49M |
| Total permanent equity | - | - | - | - | 0.00M |
| Noncontrolling interest in consolidated entity | - | - | - | - | 0.00M |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | 0.00M |
| Accumulated other comprehensive income | 4829.74M | 3327.24M | -2519.90M | -1047.73M | 1448.23M |
| Additional paid in capital | - | - | - | - | 0.00M |
| Common stock total equity | - | - | - | 0.16M | 0.15M |
| Preferred stock total equity | - | - | - | - | 0.00M |
| Retained earnings total equity | - | - | - | - | 0.00M |
| Treasury stock | - | - | - | - | 0.00M |
| Accumulated amortization | - | - | - | - | 0.00M |
| Non currrent assets other | 16719.23M | 16862.12M | 16425.97M | 7275.31M | 503.12M |
| Deferred long term asset charges | - | - | - | - | 0.00M |
| Non current assets total | 53327.65M | 20502.08M | 20300.55M | 9384.74M | 3055.87M |
| Capital lease obligations | 4285.81M | 1472.82M | 971.43M | 667.98M | 544.33M |
| Long term debt total | - | - | - | - | 5206.68M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -3242.14M | -35562.36M | -38357.90M | -27868.08M | -7646.01M |
| Change to liabilities | 222.89M | -1256.43M | 1817.22M | 414.49M | 7572.44M |
| Total cashflows from investing activities | -22361.67M | -35562.36M | -38357.90M | -28319.68M | -7548.51M |
| Net borrowings | - | -1875.47M | 13930.23M | 7970.12M | 7970.12M |
| Total cash from financing activities | 1.46M | -1875.15M | 51799.00M | 15854.73M | 17344.36M |
| Change to operating activities | 7114.48M | 14762.32M | 28911.01M | 18994.56M | 10746.96M |
| Net income | 31538.06M | 7768.67M | -7179.74M | -6967.60M | -10217.12M |
| Change in cash | 3806.83M | -8799.67M | 41497.78M | 2806.17M | 18110.69M |
| Begin period cash flow | 9575.48M | 74843.64M | 33345.86M | 30539.69M | 12429.00M |
| End period cash flow | 13382.30M | 66043.97M | 74843.64M | 33345.86M | 30539.69M |
| Total cash from operating activities | 7032.98M | 28783.01M | 28196.63M | 14820.98M | 7767.93M |
| Issuance of capital stock | 0.00M | 0.00M | 37868.78M | 8194.60M | 17704.51M |
| Depreciation | 2735.08M | 1844.24M | 800.47M | 637.83M | 497.00M |
| Other cashflows from investing activities | - | -35562.36M | -38357.90M | -459.63M | 159.79M |
| Dividends paid | - | - | - | 0.00M | 0.00M |
| Change to inventory | - | 6075.83M | 4976.86M | 6934.12M | 3311.70M |
| Change to account receivables | 86.04M | 55.81M | 321.43M | -803.39M | -159.41M |
| Sale purchase of stock | - | - | - | 0.00M | 0.00M |
| Other cashflows from financing activities | 1.46M | 0.32M | 14853.12M | 7660.13M | 5464.41M |
| Change to netincome | 6811.30M | 21014.34M | 35376.37M | 2545.09M | 6765.47M |
| Capital expenditures | 635.72M | 3287.23M | 43.05M | 27.44M | 27.33M |
| Change receivables | - | - | - | 0.00M | 0.00M |
| Cash flows other operating | - | - | - | 0.00M | 0.00M |
| Exchange rate changes | - | - | - | 0.00M | 0.00M |
| Cash and cash equivalents changes | - | - | - | 0.00M | 0.00M |
| Change in working capital | 7423.41M | 13561.70M | 31049.66M | 18605.66M | 10724.73M |
| Stock based compensation | 7718.36M | 4774.73M | 3613.04M | 2557.71M | 6841.57M |
| Other non cash items | -41353.36M | 833.88M | 287.85M | 9.48M | -78.27M |
| Free cash flow | 6397.26M | 25495.78M | 28153.58M | 14793.54M | 7740.60M |
Sector: Consumer Cyclical Industry: Internet Retail
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| PDD PDD Holdings Inc. |
-1.51 1.85% |
80.17 | 20.54 | 13.26 | 0.62 | 5.93 | 0.50 | 1.74 |
| AMZN Amazon.com Inc |
4.88 1.99% |
250.51 | 34.61 | 30.77 | 3.75 | 6.54 | 3.79 | 16.44 |
| BABAF Alibaba Group Holding Ltd |
0.61 5.06% |
12.77 | 24.65 | 20.62 | 0.33 | 2.20 | 2.17 | 16.99 |
| BABA Alibaba Group Holding Ltd |
-1.14 1.12% |
100.36 | 24.68 | 20.58 | 0.33 | 2.20 | 2.17 | 16.98 |
| MELI MercadoLibre Inc. |
-8.17 0.49% |
1668.62 | 51.81 | 30.77 | 2.64 | 12.30 | 2.96 | 27.35 |
PDD Holdings Inc., a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace. It focuses on bringing businesses and people into the digital economy. The company was formerly known as Pinduoduo Inc. and changed its name to PDD Holdings Inc. in February 2023. The company was incorporated in 2015 and is based in Dublin, Ireland.
25 Saint Stephens Green, Dublin, Ireland, D02 XF99
86 21 5266 1300
17403
| Name | Title | Year Born |
|---|---|---|
| Mr. Lei Chen | Chairman & CEO | 1980 |
| Ms. Jun Liu | VP of Fin. | 1983 |
| Mr. Junyun Xiao | Sr. VP of Operation | 1980 |
| Xin Yi Lim | Investor Relations Officers | NA |
| Mr. Jianchong Zhu | Sr. VP & Gen. Counsel | 1979 |
| Mr. Nick Shu C.F.A. | Director of Corp. Devel. & IR | NA |
| Mr. Zhenwei Zheng | Sr. VP of Product Devel. | 1984 |
| David Liu | VP of Strategy | NA |
| Peng Cheng | IR Director | NA |
| Mr. Lei Chen | General Counsel, Co-CEO & Chairman | 1980 |
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